Mortgages

The tool, which includes overlays for industry metrics like delinquencies, could be helpful to policymakers trying to size up the cost of natural disasters affecting properties.

Concrete prices have surged 10.7% in 2022, but the cost of once-volatile softwood lumber has moderated greatly since the summer, according to the National Association of Home Builders.

Borrowers' affordability concerns drove activity lower than normal seasonality in November would indicate, Black Knight said.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

Housing finance is in the midst of a cyclical transition in which every penny counts and technologies that offer efficiencies look attractive, but work must be done before this automation can bear fruit. What does it take to make meaningful operational changes today?

One of the biggest U.S. homebuilders is offering to sell thousands of homes to rental landlords at a time when sales to everyday buyers have slumped. 

Borrowers gained an average of $34,300 in home equity since the third quarter of last year, but that's almost half the amount of growth recorded over the summer.

But that's largely because homes are staying on the market longer — almost three weeks more than in early summer on average.

The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

A new state study suggests that mortgage lenders are putting up barriers to home ownership among people of color.

Following peaking at 7.08% on Nov. 10, the 30-year fixed has come down three-quarters of a percentage point, Freddie Mac said.

Lenders added jumbo and adjustable rate mortgage products during November, both of which have had lower interest rates than conforming loans, the Mortgage Bankers Association said.

Despite a large annual increase, new foreclosure starts are still only near 80% of pre-pandemic levels.

The products are currently limited to a single distribution channel, but the company hasn't ruled out offering them through third-party originators in the future.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

Shares picked up across all federal categories last week, but overall application volumes fell, dragged down by a cooling conventional purchase market, according to the Mortgage Bankers Association.

The company reported a net loss of $84.1 million in the third quarter and blamed the performance on interest rate hikes, inflation and supply chain woes.

Home prices, sales volumes, interest rates are expected to drop next year, researchers at the company forecasted.

Deterioration in credit quality should put strain on collateral originated in late 2021 and early 2022, affecting performance, Barclays Credit Research said.

The seed round was led by Conversion Capital and also includes backing from Blend, Zillow and Figure.